Brown Shipley is planning to revamp its suite of funds later this year in a process that will include the launch of two new products.
The existing £40.5 million UK Flagship fund will change from a UK large-cap equity strategy to a balanced mandate, including UK and overseas equities and fixed income exposure.
To reflect this it will be renamed the Brown Shipley Dynamic fund, and its management will transition to Simon Nicholas, who appeared in Citywire Wealth Manager’s Top 100 in fund selection in 2013.
Current manager John Smith, who joined Brown Shipley in 1994 after an investment career that began in 1973, will continue to assist on the UK equity side over the next six to 12 months ahead of his retirement.
Former Aberdeen and Cazenove manager Nicholas (pictured) will retain responsibility for the Brown Shipley £23.3 million Income and £22.7 million Growth funds, as well as newly launched cautious and balanced funds. These funds will reflect existing client mandates run by Brown Shipley’s investment team.
Income has returned a top-quartile 21.8% over the past three years, compared with an average of 16.9% from its Mixed Assets – Balanced peer group, and Growth 21.3% versus 15.3% from its Mixed Assets – Flexible sector.
The £146 million Brown Shipley Sterling Bond fund, managed by Citywire + rated Kevin Doran, will not be affected by the changes to the range. Over the past three years it has returned 28.2%, a top-quartile performance in its Sterling Corporate Bond sector where the average fund has generated 23.6%.